BY MISGANAW ASNAKE
ADDIS ABABA– The visiting Pakistani investors expressed desire to invest in Ethiopia’s pharmaceutical sector and to capitalize on its world-class industrial parks for the production of medical supplies. Business Development Director for the pharmaceutical firm Glitz Pharma, Chaudhary Bilal told The Ethiopian that they found Ethiopia’s market and availability of a skilled labor force attractive for their products. “When I return to my country, I will tell fellow Pakistani investors that Ethiopia is the right place to do business and encourage them to make active involvement in its market.”
“I found the people of Ethiopia are very hospitable and the country is peaceful and blessed with immense business and tourism potentials. I would like to express my appreciation to Ethiopia’s Embassy in Pakistan that facilitates conditions for us to weigh the business opportunities here.” “We signed a memorandum of understanding to open a pharmaceutical company in Ethiopia and our products will be available in the Ethiopian market shortly.”
Pharma IMS Certified Senior Manager, Haseeb Nasir expressed his understanding of Ethiopia’s conducive business climate and government’s commitment to make the country a rightful destination for foreign companies. “First we would establish our representative office here then we would commence the production of pharmaceutical products in the industrial parks.”
According to a Pakistan Ambassador to Ethiopia Shozab Abbas, this is the first time for Pakistan to bring 70 investors from the textile, agro industry and pharmaceutical sectors to explore Ethiopia’s market. “All come at the invitation of the Ethiopian government and would directly explore the beautiful country which has enormous potential for business.” Massive agriculture takes place in both countries thus; there is great opportunity to build agricultural connections between the two countries. Pakistan has a comparative advantage in the textile industry. Their visit and investigation would help them to build, understand and start business soon.
Before three years back, the relationship between the two countries was a normal relationship type but when the war erupted in Ethiopia in 2021, Pakistan favored the Ethiopian government in the UN Security Council and voted in favor of Ethiopia. That is the fundamental drift from Pakistan’s point of view. “We are getting closer politically and diplomatically towards Ethiopia. That is the first improvement in the relationship between the two.”
Second, the Ethiopian embassy opened in Ethiopia and connectivity strengthened more and Ethiopian Airlines played a critical role. The traffic of passengers and trade of the goods link would increase by many folds. This would be a new connection and facilitate people to people connection with shortest time between the two, the ambassador remarked.
THE ETHIOPIAN THURSDAY 9 MARCH 2023
